Bankruptcy is an effective tool for erasing debt and regaining control of your finances. However, you may dread the inevitable effect that declaring bankruptcy has on your credit score. It is true that bankruptcy will negatively impact your credit, but it is only temporary. You can quickly improve your credit score after filing for bankruptcy.
There are many methods for increasing your credit, such as using a secured card and taking out credit-building loans. Now, thanks to technology, there are several mobile apps that can help you repair your bad credit after bankruptcy. Here are some apps to consider downloading as you pursue credit recovery.
Credit Sesame (Apple and Android)
This credit-monitoring app allows you to track your credit score and analyze your debt. The Debt Analysis tool shows you what is impacting your credit and steps you can take to rebuild it. If you are a homeowner, you can benefit from its home value tool. You can also receive notifications about any suspicious account activity.
Another great benefit of Credit Sesame is that it provides every user with identity theft insurance of up to $50,000. This helps if you are the victim of any theft or data breach. One downside is that this app only provides credit score data from one bureau–TransUnion.
CreditKarma (Apple and Android)
The CreditKarma app gives you updates from Equifax and TransUnion. It provides weekly updates and alerts when any changes take place. If you see anything wrong with your credit report, you can report errors to TransUnion with the in-app Direct Dispute feature. It also has an approval assistance feature that helps you identify loans you are likely to get.
Mint (Apple and Android)
Mint helps you budget when you link your bank account and credit card. It automatically categorizes your expenses so you can identify ways to save. The app also helps you track and pay all your bills online.